Payment Metrics Decoded: Harnessing the Power of Payment Data
Blog post from Basis Theory
Merchants can use payment data to assess business performance, but default dashboard metrics become most valuable when analyzed regularly for trends and actions rather than viewed only as snapshots. Important measures include customers’ preferred payment methods, transaction volume by product or plan, authorization rates, and transaction failures such as declines, chargebacks, disputes, and fraud, all of which can affect revenue, customer experience, processing costs, and risk management. Website checkout analytics, including drop-off, conversion, repeat-purchase, and time-to-purchase rates, can further reveal opportunities to simplify purchasing and improve retention. Ongoing, segmented analysis can help businesses identify seasonal patterns, operational inefficiencies, payment recovery opportunities, and potential fraud issues, while supporting decisions on expansion into new products, markets, or payment options. Organizations are also encouraged to take ownership of payment data through a PCI-compliant cardholder data environment, either by building one internally or using a specialized third-party provider.
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